Applied Microarrays and GE Healthcare agree on transfer of CodeLink business assets

Released on = May 7, 2007, 10:11 am

Press Release Author = Applied Microarrays

Industry = Biotech

Press Release Summary = Applied Microarrays and GE Healthcare agree on transfer of CodeLink business assets

Press Release Body = Tempe, AZ. MAY 5,, 2007

Applied Microarrays, Inc announced today the completion of Applied Microarrays' purchase of certain assets of GE Healthcare's CodeLinkT Gene Expression Bioarray System. Under the terms of the agreement, Applied Microarrays, Inc acquires certain equipment, inventory, licenses and assigned contracts associated with the CodeLink platform. Financial terms were not disclosed.

The transaction enables Applied Microarrays to provide CodeLink users with continued and uninterrupted access to the industry-leading gene expression platform as Applied Microarrays, Inc continues to develop, market, distribute, sell, and support the existing CodeLink catalogue of whole genome expression arrays, Codelink custom arrays and Codelink inside arrays .

Alastair Malcolm, president and chief executive officer of Applied Microarrays, said, "We're pleased to now have a unique opportunity to launch our company with a full range of microarray design, development, and manufacturing competencies and at the same time ensure a seamless transition for customers.

Eric Roman, General Manager Genomic Sciences, GE Healthcare, said, "There has been strong demand from CodeLink customers to keep these products in the marketplace. We're delighted to have found a way for our customers to continue working with one of the best gene expression platforms available."

"The CodeLink platform is customer-proven over several years, notably demonstrating world-class technical performance in the FDA-led MicroArray Quality Control project," Malcolm said. Applied Microarrays is immediately opening the CodeLink platform to the microarray community for new applications development, offering customers the opportunity to place their unique custom array content on to a robust, proven platform which can be manufactured in high volume.

Applied Microarrays aims to be a leading contract manufacturer of microarrays, of any type, for any customer, with no limitations on substrate material or spotted fluid. "We are fortunate in this regard to have acquired an intact high-capacity microarray spotting facility, employing Six Sigma techniques since its inception to produce leadership quality products," Malcolm said.

About Applied Microarrays, Inc.
Applied Microarrays is a new company headquartered in Tempe, Arizona. Using the microarray assets acquired from GE, and staffed with experts who developed the CodeLink platform and manufacturing capabilities, the company will specialize in contract development and manufacturing of custom microarrays of all types. The company will additionally continue to offer the CodeLink family of gene expression arrays, and customer-specified subsets of that content on multi-array formats. Our vision is to be the microarray partner of choice for focused "omics" research, and the leading high-volume contract manufacturer for research and diagnostic arrays. To view the family of CodeLink products transitioning to Applied Microarrays visit www.codelinkbioarrays.com

About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. GE Healthcare's expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.

GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. GE Healthcare's vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.

Contact:

Applied Microarrays
Alastair Malcolm
+1 480 229 4245
alastair@appliedmicroarrays.com

GE Healthcare

International
Conor McKechnie
+44 1494 498 276
conor.mckechnie@ge.com

Americas
Arvind Gopalratnam
arvind.gopalratnam@ge.com
+1 414 721 2429
+1 262 501 0777

Web Site = http://www.appliedmicroarrays.com

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Tempe, AZ 85284
sales@appliedmicroarrays.com
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